Debit Durbin

Discussion in 'Politics' started by ScreamingEagle, Sep 30, 2011.

  1. ScreamingEagle
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    ScreamingEagle Gold Member

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    Goodbye free checking and now hello to debit card fees.......moving costs from big retailers to the customers.....gee thanks Dicky D....is this what you Dimwits call paying a "fair share".....and helping the American people by losing even more jobs....?

     
    Last edited: Sep 30, 2011
  2. 8537
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    8537 Senior Member

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    I though consumers bore all the costs of taxes and regulation anyway? So this isn't an additional expense, it's just a more transparent fee.
     
  3. ScreamingEagle
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    ScreamingEagle Gold Member

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    the retail customer does not get any tax write-off benefit whatsoever....who do you think is keeping the difference....?
     
  4. 8537
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    8537 Senior Member

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    According to conservatarian economics wherein all taxes are paid by the consumer, the tax writeoff shows up to the consumer as a reduced cost for the product.
     
  5. Claudette
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    Claudette Gold Member

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    Looks like more "unintended consequences".

    Wells Fargo, my bank, will be doing the same thing.

    Guess I'll be going to the local credit union for my banking.
     
  6. ScreamingEagle
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    ScreamingEagle Gold Member

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    so now you get to pay full price......dicked again by Dicky D and the Dims....
     
  7. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Why did we need more fees/taxes or whatever cute nomenclature you wish to use?
     
  8. Kuros
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    Kuros BANNED

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    The fees from credit cards and debit cards are charged to the retailer. The retailer turns around and raises his prices . . . on everyone.

    The law moves the fee to the consumer. Now the consumer is responsible for his spending. This way the jagoff who is always swiping his debit card for a pack of smokes doesn't raise prices on the groceries which I pay for using cash.
     
  9. ScreamingEagle
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    ScreamingEagle Gold Member

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    smart move...

    The consequences are not "unintended".....they know.......Durbin is helping his Big Retail friends and lobbyists by helping them get rid of their transaction costs......he is doing that by telling the banks what they can and can't charge Big Retail.....so the banks are now just going to get their transaction costs in other ways....i.e. charging you directly $5 per month ($60/yr).....whether you buy $10 or $10,000 worth of goods...

    Who made Dick Durbin the "Arbiter" of managing business costs.......? And why does he get to favor Big Retail over Banks....?

    and does anybody really think Big Retail stores are going to lower their prices as a result of this?...:lol:
     
    Last edited: Sep 30, 2011
  10. StevenC
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    StevenC VIP Member

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    Anyone notice that everytime the Obama admin adds another regulation to banks we get hit with more fees?
    CC fees going up.
    Overdraft fees going up.
    Late fees.
    and now this.
    Thank you Obama and Dems. How do you plan to screw us next?
     

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